White & Case Advises EQT on SEK21 Billion Securitas Exit: Largest Ever Exit of a Swedish Private Equity Held Portfolio Company
Global law firm White & Case LLP has advised EQT Funds ('EQT') on its SEK21 billion (approx GBP2 billion) sale of Securitas Direct AB to a consortium formed by Bain Capital and Hellman & Freidman.
The EQT V Fund acquired Securitas Direct AB in March 2008 following a public offer to Securitas Direct AB's shareholders. Securitas Direct AB, a spin-off from the Securitas AB group, listed on the Stockholm Nasdaq OMX Stock Exchange in 2006, where it remained in public ownership until it was acquired by EQT.
"This is a landmark transaction for both EQT and the Swedish market," said partner Ulf Johansson, White & Case. "The private equity market in Sweden has been extremely active with regard to merger and acquisitions since the start of the year, but this deal is an important milestone with regard to private equity held portfolio company exits."
EQT is a European private-equity firm that invests in industrial companies across the globe. The firm has raised around $18 billion through 13 funds to date. EQT Partners act as exclusive advisors to the EQT Funds. Securitas Direct AB is the European leader in monitoring and alarm solutions for homes and small businesses. With almost 1.4 million customers, the group is a market leader in almost every country in which it operates. Bain Capital is a leading private asset manager whose affiliates manage $65 billion globally. Hellman & Friedman is a private equity investment firm who've raised over $25 billion of committed capital and have invested in over 70 companies globally.
The White & Case team included senior associate and project manager Tuula Tallavaara, responsible partner Ulf Johansson and associates John Gustafsson, Christian Reineby, Björn Andersson and Martina Engström, all of the Firm's Stockholm office. Morgan Stanley, Morgan Keegan and Nordea Corporate Finance acted as financial advisors to EQT.
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